|
Video: What is a Stock Split?
|
|
Travel + Leisure is a provider of hospitality services and travel products. Co.'s Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, provides consumer financing in connection with the sale of VOIs, and provides property management services at resorts. This segment is comprised of the Wyndham Destinations business line. Co.'s Travel and Membership segment operates a range of travel businesses, including three vacation exchange brands, a home exchange network, travel technology platforms, travel memberships, and direct-to-consumer rentals. This segment is comprised of the Panorama and the Travel + Leisure Group business lines. According to our TNL split history records, Travel + Leisure has had 3 splits. | |
|
Travel + Leisure (TNL) has 3 splits in our TNL split history database. The first split for TNL took place on September 19, 1994. This was a 3 for 1
split, meaning for each share of TNL owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 3000 share position following the split. TNL's second split took place on March 03, 1997. This was a 2 for 1
split, meaning for each share of TNL owned pre-split, the shareholder now owned 2 shares. For example, a 3000 share position pre-split, became a 6000 share position following the split. TNL's third split took place on November 28, 2000. This was a 2 for 1 split, meaning for each share of TNL owned pre-split, the shareholder now owned 2 shares. For example, a 6000 share position pre-split, became a 12000 share position following the split.
When a company such as Travel + Leisure splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the TNL split history from start to finish, an original position size of 1000 shares would have turned into 12000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Travel + Leisure shares, starting with a $10,000 purchase of TNL, presented on a split-history-adjusted basis factoring in the complete TNL split history.
Growth of $10,000.00
With Dividends Reinvested
|
Start date: |
04/29/2014 |
|
End date: |
04/25/2024 |
|
Start price/share: |
$71.68 |
|
End price/share: |
$45.69 |
|
Starting shares: |
139.51 |
|
Ending shares: |
192.54 |
|
Dividends reinvested/share: |
$17.49 |
|
Total return: |
-12.03% |
|
Average Annual Total Return: |
-1.27% |
|
Starting investment: |
$10,000.00 |
|
Ending investment: |
$8,800.48 |
|
Years: |
10.00 |
|
|
Growth of $10,000.00
Without Dividends Reinvested
|
Start date: |
04/29/2014 |
|
End date: |
04/25/2024 |
|
Start price/share: |
$71.68 |
|
End price/share: |
$45.69 |
|
Dividends collected/share: |
$17.49 |
|
Total return: |
-11.86% |
|
Average Annual Total Return: |
-1.25% |
|
Starting investment: |
$10,000.00 |
|
Ending investment: |
$8,818.32 |
|
Years: |
10.00 |
|
|
|
Date |
Ratio |
09/19/1994 | 3 for 1
| 03/03/1997 | 2 for 1
| 11/28/2000 | 2 for 1 |
|
|